About
Founded in 2021 by Grigor Hovhannisyan and Karen Vardanyan, Formula VC is a Yerevan-based early-stage fund focused on SaaS, IoT, and AI startups with Armenian roots. Fund I ($7M) was fully deployed into 22 companies including CoinStats, EasyDMARC, BlueQubit, Expper Technologies, and Zoomerang. In February 2025 Formula VC launched Fund II with a $30M target, aiming to back 40 Armenian-founded startups globally at pre-seed and seed. The fund invests $500K–$1M per company and is backed by C-QUADRAT AAM Armenia among other LPs.
Portfolio 7
- WirestockStartup · Yerevan
- EasyDMARCNot in the directory
- CoinStatsNot in the directory
- BlueQubitNot in the directory
- ZoomerangNot in the directory
- 10WebNot in the directory
- Expper TechnologiesNot in the directory